Nike (NKE) FY2014 results: revenue $27.8 billion, up 9.8% on the year
Nike, Inc. (NKE) reported revenue of $27.8 billion for fiscal 2014, the year ended 31 May 2014, up 9.8% on the year before. Net income was $2.7 billion, up 8.9%, and diluted earnings per share $1.49. The figures are the company's own, from the 10-K it filed with the SEC on 25 July 2014.
Revenue
$27.8 billion
+9.8% on the year
FY2008FY2014
Operating margin
n/a
FY2008FY2014
Net income
$2.7 billion
+8.9% on the year
FY2008FY2014
Diluted EPS
$1.49
+9.6% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
27,799
25,313
23,331
+9.8%
Cost of revenue
15,353
14,279
13,183
+7.5%
Gross profit
12,446
11,034
10,148
+12.8%
Gross margin
44.8%
43.6%
43.5%
Selling, general and administrative
8,766
7,796
7,079
+12.4%
Pre-tax income
3,544
3,256
3,011
+8.8%
Income tax
851
805
754
+5.7%
Effective tax rate
24.0%
24.7%
25.0%
Net income
2,693
2,472
2,211
+8.9%
Net margin
9.7%
9.8%
9.5%
Diluted EPS
$1.49
$1.35
$1.18
+9.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
3,013
3,027
1,824
-0.5%
Capital expenditure
880
598
563
+47.2%
Free cash flow
2,133
2,429
1,261
-12.2%
Free cash flow margin
7.7%
9.6%
5.4%
Cash from investing
-1,207
-940
586
Cash from financing
-2,914
-1,045
-2,100
Depreciation and amortisation
n/a
452
387
Share-based compensation
177
174
130
+1.7%
Buybacks
2,628
1,674
1,814
+57.0%
Dividends paid
799
703
619
+13.7%
Dividend per share
$0.47
$0.41
$0.69
+14.8%
Diluted shares, weighted
1,812m
1,833m
1,879m
-1.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
10,824
11,081
10,319
-2.3%
Redeemable equity
0.0
0.0
0.0
Debt
1,373
1,365
385
+0.6%
Other liabilities
6,397
5,099
4,761
+25.5%
Total liabilities and equity
18,594
17,545
15,465
+6.0%
Fixed assets
2,834
2,452
2,209
+15.6%
Goodwill
131
131
131
0.0%
Intangible assets
282
289
370
-2.4%
Investments
2,922
2,628
1,440
+11.2%
Cash and equivalents
2,220
3,337
2,254
-33.5%
Receivables
3,434
3,117
3,132
+10.2%
Other assets
6,771
5,591
5,929
+21.1%
Total assets
18,594
17,545
15,465
+6.0%
10-K for the year ended 31 May 2014, filed 25 July 2014: the filing.